Top 5 Chinese Stocks Bridgewater Associates is Selling

In this article, we discuss top 5 Chinese stocks Bridgewater Associates is selling. If you want to read our detailed discussion on the US China war and rise of China, head directly to Ray Dalio on Potential US China War and Rise of China.

5. Chindata Group Holdings Limited (NASDAQ:CD)

Number of Hedge Fund Holders: 22

Chindata Group Holdings Limited (NASDAQ:CD) is a company that provides hyperscale data center solutions in Asia-Pacific emerging markets, such as China, India, and Southeast Asia. It offers various services to its clients, such as colocation, managed, energy, infrastructure, and IT and network services. It has a client base of leading technology companies in different industries.

Bridgewater Associates dropped Chindata Group Holdings Limited (NASDAQ:CD) in the second quarter of 2023 after holding it since the second quarter of 2021. Insider Monkey’s database of hedge funds shows that 22 hedge funds had stakes in Chindata Group Holdings Limited (NASDAQ:CD) during the second quarter of 2023.

4. Zai Lab Limited (NASDAQ:ZLAB) 

Number of Hedge Fund Holders: 23

Zai Lab Limited (NASDAQ:ZLAB) is a company that develops and sells drugs for cancer and other diseases. Bridgewater Associates picked up Zai Lab Limited (NASDAQ:ZLAB) in the second quarter of 2020, buying 63,837 shares worth $5.24 million at the time. However, the fund turned around and slashed the stake by 6%, dumping 8055 shares in Q2 2023.

Out of the 910 hedge funds tracked by Insider Monkey, 23 hedge funds had stakes in Zai Lab Limited (NASDAQ:ZLAB) at the end of Q2 2023.

3. Li Auto Inc. (NASDAQ:LI)

Number of Hedge Fund Holders: 25

Li Auto Inc. (NASDAQ:LI) is a company that makes smart electric vehicles in China. Bridgewater Associates has decreased its stake in the company by 92% in the past few months, and the holding now represents 0.01% of the investment portfolio of the hedge fund.

As of the end of the second quarter of 2023, 25 hedge funds had stakes in Li Auto Inc. (NASDAQ:LI), up from 22 in the preceding quarter.

2. New Oriental Education & Technology Group Inc. (NYSE:EDU)

Number of Hedge Fund Holders: 26

New Oriental Education & Technology Group Inc. (NYSE:EDU) is a Chinese provider of private education for students of all ages and needs, such as language, test prep, online, overseas, and publishing.

Bridgewater Associates had trimmed its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 96% at the end of June compared to the holding at the end of the first quarter of 2023. The fund, at the end of the second quarter of 2023, owned 36,368 shares in the company worth over $1.44 million.

After digging through 910 hedge funds for their June quarter of 2023 investments, Insider Monkey discovered that 26 had held a stake in New Oriental Education & Technology Group Inc. (NYSE:EDU).

1. KE Holdings Inc. (NYSE:BEKE)

Number of Hedge Fund Holders: 36

KE Holdings Inc. (NYSE:BEKE) is a Chinese platform for housing transactions and services. It offers four segments: Existing Home, New Home, Home Renovation and Furnishing, and Emerging and Other Services. Insider Monkey’s database of hedge funds shows that 36 hedge funds had stakes in KE Holdings Inc. (NYSE:BEKE) during the second quarter of 2023.

Bridgewater Associates owned 1.56 million shares of BEKE worth about $23.09 million in Q2 2023 but reduced its position by 27%. BEKE is still one of the fund’s top Chinese stocks.

Artisan Partners made the following comment about KE Holdings Inc. (NYSE:BEKE) in its second quarter 2023 investor letter:

“Bottom contributors to performance for the quarter included real estate platform KE Holdings Inc. (NYSE:BEKE). Beike fell due to weaker industry property sales in China in April following the release of strong pent-up demand in Q1, despite accelerating revenue and very modest cost growth.”

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